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20121228
20121228
Search Results 0 to 6 of about 7 (some duplicates have been removed)
and spending cuts. the latest on what we can expect from today's efforts. >> the key players will give it one last shot. president obama and congressional leaders will meet this afternoon at the white house in a last-ditch effort to avoid a self-inflicted fiscal calamity. this is the first meeting between the power plays in six weeks. if they can't work out some kind of agreement automatic tax hikes and spending cuts will go into affected new year's day, which will impact most americans and will put the nation back into recession. >> we are coming up against a hard deadline. >> at today's meeting, president obama will push for a stop gap measure, a small deal that will at least prevent tax increases for those earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> the only reason why democrats have been trying to defect -- deflect a
and signed by president obama. the idea being to make it so painful not to cut a deal on taxes and spending that they would be forced to cut a deal on taxes and spending. except keeping them honest, they haven't done it. even though they knew the stakes, they knew the deadline, and both sides promised that this time things would be different. >> we need to return to fiscal responsibility. >> how is it that we're going to be able to do that? getting our fiscal house in order. >> the american people have spoken loudly. they want us to get our fiscal house in order. >> fiscal handcuffs on this congress that are sorely needed. >> washington is beginning to get its fiscal house in order. >> so they approve legislation that gave everyone nearly a year and a half to reach a long-term agreement on spending and taxes or face truly punishing consequences if they didn't. you'll remember at the time this was a really big deal. republicans had forced the issue by refusing to raise the debt ceiling without budget cuts. markets went haywire. gabby giffords even returned to washington from rehab from her a
to the white house this afternoon to meet there with president obama. lawmakers are increasingly looking at the period following the december 31st deadline we're told to come up with a fix to avoid massive tax hikes and spending cuts, affect lives of nearly every american many economists say could plunge the economy into another recession. chief white house correspondent ed henry live with the latest. so in this meeting, ed, is there any hope they will accomplish anything? >> reporter: well it is pretty low expectations, jon. what we're expecting when you talk to top officials of both parties the president will offer a scaled back plan, something he laid out lines friday before christmas here in the white house briefing room before he went to hawaii. where he said look, we have to scale back expectations. basically just extend middle class tax cuts. don't worry about the rates for everyone else. secondly extend unememployment insurance for about two million people who will be losing it a few days from now at the end of the year. finally he refer to possibility of smaller bit ever spendin
-stakes meeting at the white house between president obama and congressional leaders on the fiscal crisis. the talks are a last-ditch effort to avoid spending cuts and tax hikes from 90% of american households. mike emanuel is live on capitol hill where all the action is taking place. is there a lot of action? there is a lot of buzz on capitol hill. mitch mcconnell, who will be attending a white house meeting told us a few moments ago that we are always the running out of time. chairman max baucus, the democrat says that he thinks this will fiscal cliff matter comes down as one white house meeting two hours from now. another top senate republican said a short time ago that he was calling on president obama to lead. >> the president is not a senator anymore. he's a president. just as president reagan worked to deal with tip o'neill and bill clinton and president eisenhower, we need leadership on not just taxing rich people, but we contact them and it wouldn't help the medicare fiscal cliff. greg: others are skeptical, noting that high-profile meetings are for show often times and all about
Search Results 0 to 6 of about 7 (some duplicates have been removed)